Mangalore Refinery and Petrochemicals Limited — Others, 13-01-2025: News Verification

Mangalore Refinery and Petrochemicals Limited (MRPL) has entered into a lease agreement with the Indian Strategic Petroleum Reserves Limited (ISPRL) for crude oil storage. This follows MRPL's participation in a global tender for storage capacity in underground rock caverns at Mangalore, awarded on January 6, 2025. The agreement is part of MRPL's routine operations and reflects its longstanding relationship with ISPRL, having no material impact on the company's overall business. Investors may view this as a neutral update, with no significant risks or changes to strategy expected.